Grand Jury Subpoena for Beazer

It reiterates its claim that the FBI isn't involved.
Author:
Publish date:

Beazer Homes (BZH) - Get Report sank 2% late Thursday after the latest twist in the federal probe of the homebuilding company.

The Atlanta-based company disclosed after the market closed Thursday that it had received a grand jury subpoena from the U.S. attorney in the Western District of North Carolina seeking the production of documents.

The news comes just two days after Beazer shares were rocked by news reports the company was being investigated by federal agencies including the FBI. Beazer initially said Tuesday it "can not comment on or verify any investigation," then confirmed Wednesday it had received some document requests.

On Thursday, it reiterated its claim that it "has not received a request for information or documents from the FBI or IRS in this regard." The company also said the U.S. attorney "has made no allegations of wrongdoing by Beazer Homes at this time and that the statements made by an FBI spokesperson about the fact of an investigation and the scope of the investigation were unauthorized, and should not have been made."

Shares fell 59 cents to $28.69.